Abu Dhabi National Oil Company (ADNOC) is accelerating operationalisation of its board-mandated low carbon growth strategy, by establishing a new Low Carbon Solutions and International Growth vertical
It will focus on renewable energy, clean hydrogen and carbon capture and storage, as well as international expansion in gas, liquefied natural gas (LNG) and chemicals. Musabbeh Al Kaabi has been appointed executive director of the new vertical.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC managing director and Group CEO, said, “The Low Carbon Solutions & International Growth vertical will accelerate delivery of our decarbonisation roadmap and advance our Net Zero by 2050 ambition. As the UAE prepares to host COP28 next year, we will continue to focus on practical and positive solutions that drive progress for the climate and the economy.
“With the direction and support of our nation’s wise leadership and the ADNOC Board, ADNOC is embarking on a new and exciting period of accelerated growth, with a determined focus on sustainability that will help future-proof our business for decades to come. To lead and drive the delivery of our new mandate, I am pleased to announce the appointment of Musabbeh Al Kaabi to the role of executive director, Low Carbon Solutions & International Growth, with effect from 16 January 2023.”
As part of its commitment to cutting emissions, ADNOC is building on the success of the region’s first commercial-scale carbon capture, utilisation and storage (CCUS) facility, to increase its CO2 capture capacity by over 500%, to approximately 5mn tons per year by 2030. This will be achieved by capturing additional CO2 from its gas processing plants and other sources of CO2 emissions. Meanwhile, in collaboration with industry partners, academia, and research institutes, ADNOC is exploring opportunities to advance CCUS technology development and deployment, while driving down its costs.
Furthermore, the Group is expanding its use of clean grid power offshore by building a US$3.6bn, first-of-its-kind, sub-sea transmission network in the MENA region. Once completed, it will connect ADNOC’s offshore operations to the UAE’s electricity grid, supplying power from nuclear and solar energy to replace existing gas turbine generators and significantly reduce ADNOC’s offshore greenhouse gas emissions by more than 30%.
ADNOC remains committed to keeping freshwater consumption below 0.5% of total water use and increasing the mangrove population by planting 10 million mangroves seedlings, by 2030, to capture CO2 and greenhouse gases, protect Abu Dhabi’s shorelines from coastal erosion, and provide a safe habitat for marine life.
And, with an eye on the future, ADNOC is accelerating its investments in renewable energy solutions. Together with the Abu Dhabi National Energy Company PJSC (TAQA) and Mubadala Investment Company, it has formed a partnership, under the Abu Dhabi Future Energy Company (Masdar) brand, which targets well over 100GW of renewable energy by 2030. The expanded Masdar entity will become one of the largest clean energy companies of its kind in the world, as it grows its world-class portfolio of renewable energy and green hydrogen projects.